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Erdogan says inflation falls, central bank reserves hit record

President Recep Tayyip Erdogan delivers a speech during a press conference after the Cabinet Meeting at Ahlat Presidential Complex in Bitlis, Türkiye, August 25, 2025. (AA Photo)
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President Recep Tayyip Erdogan delivers a speech during a press conference after the Cabinet Meeting at Ahlat Presidential Complex in Bitlis, Türkiye, August 25, 2025. (AA Photo)
August 25, 2025 08:36 PM GMT+03:00

President Recep Tayyip Erdogan addressed the media following the Cabinet meeting held at the Presidential Complex in Ahlat, Bitlis. He focused on ongoing investigations into alleged corruption and bribery involving municipalities run by the opposition Republican People’s Party (CHP).

“While citizens expect services, those who enrich themselves by exploiting public resources and turn municipalities into family estates have reached the end of the line,” Erdogan said.

The president opened his remarks by commemorating the 954th anniversary of the Malazgirt Victory, emphasizing the historical significance of the event for Türkiye.

Economic recovery, inflation updates

Erdogan highlighted recent economic progress. “Recovery in our stock market has accelerated in recent weeks. Domestic and foreign borrowing costs have decreased, and confidence in the Turkish lira is rapidly rising. Inflation has been falling uninterruptedly for 14 months,” he said.

He added that central bank reserves have reached $176.5 billion, setting a record in Türkiye’s history. Exports hit a historic $25 billion in the last reporting period, while annual exports approach $270 billion. Tourism revenue reached a record $25.8 billion in the first half of the year. Erdogan called 2026 a “reform year” for the economy, noting preparations for upcoming reforms are being completed.

A view shows the Nasser Medical Complex damaged after an Israeli strike in Khan Yunis, Gaza, Palestine, August 25, 2025. (AA Photo)
A view shows the Nasser Medical Complex damaged after an Israeli strike in Khan Yunis, Gaza, Palestine, August 25, 2025. (AA Photo)

Israel hospital attack condemned

Erdogan strongly condemned Israel’s attack on a hospital in Gaza that killed at least 20 Palestinians, including five journalists. He described the attack as “a relentless assault against humanity” and noted that Türkiye will continue to take additional steps to stop the violence and provide support to the people of Gaza.

Leader of the Republican Peoples Party (CHP) Ozgur Ozel attends his partys group meeting at the Turkish Grand National Assembly in Ankara, TÜrkiye on June 3, 2025. (AA Photo)
Leader of the Republican Peoples Party (CHP) Ozgur Ozel attends his partys group meeting at the Turkish Grand National Assembly in Ankara, TÜrkiye on June 3, 2025. (AA Photo)

Opposition sabotage efforts failed

The president defended Türkiye’s macroeconomic stability programs. “Over the past two and a half years, our macroeconomic programs have passed stress tests successfully. Following operations targeting an Istanbul-based criminal organization, opposition attempts to sabotage our economy failed. Boycott campaigns against national brands also backfired,” Erdogan said.

He added that opposition efforts to create negative perceptions about central bank reserves and international complaints against Türkiye also failed. “Neither foreign actors nor foreign media paid attention to their efforts to undermine our country,” Erdogan said.

Firefighters extinguish the wildfire that started in a rural area that spread to a forest in the Gelibolu district of Canakkale, Türkiye, August 22, 2025. (AA Photo)
Firefighters extinguish the wildfire that started in a rural area that spread to a forest in the Gelibolu district of Canakkale, Türkiye, August 22, 2025. (AA Photo)

Firefighting and environmental response

Erdogan highlighted Türkiye’s firefighting efforts. Of 5,473 fires reported this year, 4,195 occurred since June 1. Coordinated efforts by volunteers, government agencies, local authorities, and NGOs have been critical.

“Türkiye possesses the largest and most advanced firefighting fleet in history, with 27 aircraft, 105 helicopters, and nearly 6,000 ground vehicles. Despite critics attempting to exploit disasters, Türkiye is recognized globally for its firefighting and reforestation efforts,” Erdogan said.

He also noted that reforestation efforts have made Türkiye the leading country in Europe and fourth globally in post-fire tree planting.

Infrastructure, railway expansion

Erdogan outlined long-term infrastructure goals, including plans to expand Türkiye’s railway network to 17,500 kilometers by 2028 and 28,600 kilometers by 2053.

An aerial view shows ongoing road and railway construction through the Zangezur Corridor in Zangilan, Azerbaijan, October 9, 2023. (AA Photo)
An aerial view shows ongoing road and railway construction through the Zangezur Corridor in Zangilan, Azerbaijan, October 9, 2023. (AA Photo)

Zangezur corridor, diaspora support

Erdogan discussed the Zangezur Corridor project, emphasizing its potential to strengthen economic cooperation between Türkiye, Azerbaijan, and Armenia.

He also addressed the Turkish diaspora, stating, “Our brothers and sisters abroad, many of whom went to Europe as workers since the 1960s, represent Türkiye globally. Their perseverance, sacrifices, and achievements turn life abroad into a second homeland. We will not allow these citizens to be marginalized or exploited politically.”

Erdogan cites economic growth, inflation drop, and infrastructure plans
Erdogan cites economic growth, inflation drop, and infrastructure plans

Commemorating Malazgirt Victory

Erdogan marked the 954th anniversary of the Malazgirt Victory. “We are in Ahlat today to honor our heroic ancestors and reflect on the great victory that opened the doors of Anatolia to our nation,” he said.

He paid tribute to Sultan Alparslan and his soldiers and remembered Professor Dr. Ahmet Haluk Dursun, who passed away six years ago in a traffic accident.

August 25, 2025 08:36 PM GMT+03:00
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